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2.5 Billion: A Number That Will Change Your Money Mindset [VIDEO]

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I was watching an interesting TEDxTalk by Preet Banerjee (embedded below) in which he brings up two thought provoking ideas about money.

First, inflation is hard to think about in real terms outside of a few simple examples until you talk to someone older. He says that you should find someone in retirement ask them whether they paid more for their last car or if they paid more for their first house, in nominal terms. For most, they’ll pay more for their last car than their first home.

My parents aren’t in retirement yet but they bought their first house, the one I grew up in, for about $68,000 in 1980. Their last car was not $68,000 but the argument of inflation still holds true, as $68,000 in 1980 is worth about $189,470 today. When the sold the house, it was closer to half a million dollars but that was during the peak of the housing boom (subsequently gave some of that back on the home they bought). Inflation doesn’t tell the whole story but I think you’ll find it works for those actually in retirement.

That’s not the number that really caught my attention… that one is reserved for 2.5 billion. That’s the average number of heartbeats a human being will have in a lifetime. If your heart beats at a steady 60 bpm, that’s 79 and a quarter years. Exercise then seems more like a trade-off, you elevate your heart rate for many hours a year in order to get the resting heart rate down. Lower it by 1 bpm and that’ll lengthen your time on this planet. Someone with a 59 bpm will live 80.6 years (assumes a lifetime avg of 59 bpm of course).

The 15minute TEDxTalk is about debt but the 2.5 billion heartbeats really resonated with me.

Thoughts?

{ 4 comments, please add your thoughts now! }

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4 Responses to “2.5 Billion: A Number That Will Change Your Money Mindset [VIDEO]”

  1. dmosinee says:

    I didn’t think the talk was too great. Obviously anyone who cares enough to watch personal finance videos etc. already knows that carrying a balance on a credit card is financial suicide.

    If he were giving the talk to high school students who might not know any better, I think it would be more appropriate — but the talk looked like it was geared toward adults.

    It’s getting hard to find actually interesting content on personal finance these days, because 99% of it is just some guy telling you not to run credit card debt. Only the truly desperate (who have no other choice), or the dumb (who take zero interest in these materials) maintain long term credit card debt.

  2. xbalance says:

    I agree with dmosinee that this video is probably not very educational or informative to those of us that follow this blog, and probably not very informative to those that were motivated to watch the video via another link. That said, I am confident there are way to many people that are not saving enough for retirement because they are spending too much money today. Even if they are not using debt. Debt is bad, I get that. Unnecessary consumption is also bad, even if you can afford it.

  3. Mike says:

    Hey dmosinee and xbalance,

    For every person like you guys out there, athere are 9 people buying cars they can’td afford and are in 15k CC debt…

    Pass this link on so we can get the rest of the US educated.

  4. jsbrendog says:

    it is a shame that people of adult age still do not know things like what is talked about here. or, i guess they could know and just not care.


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